Press release
The Southeast Asian E-Commerce in the Automotive Aftermarket Will Reach USD 9,184.6 Million By 2030
In 2022, the Southeast Asian e-commerce in the automotive aftermarket was worth around USD 3,819.8 million, and it is projected to advance at an 11.4% CAGR from 2022 to 2030, hitting USD 9,184.6 million by 2030, according to P&S Intelligence.This growth can be credited to the utilization of these channels increasing as a result of increasing levels of digitalization and internet utilization across Southeast Asia, also the growing customer knowledge regarding product details and other advantages of online shopping.
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Moreover, the market enlargement is supported by the variations in the automotive aftermarket as a whole, credited to a surge in the count of vehicles in operation and their aging, also the growth in the occurrence of road accidents.
The market is also set to experience profit from technology enhancements, fleet owners' rising knowledge and usage of quality replacement parts, and the government steps associated with passenger and vehicle protection.
The automotive aftermarket has sighted the growth of a DIY culture because of the growing trend of vehicle customization, with vehicle holders and auto devotees customizing their vehicles. While maintenance and service amenities and specialists have factually been the primary customers for vehicle parts builders, DIY fans now account for a generous portion of the sales of components via e-commerce channels. This increasing customer base would be beneficial for the automotive aftermarket.
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The equipment category is all set to experience the fastest Southeast Asian e-commerce in automotive aftermarket growth at a CAGR of approximately 12%. This can be credited to the trend of advancing the several pieces of the machine of vehicles over time and the obtainability of an extensive variety of items on online channels.
Hence, the utilization of these channels is increasing as a result of increasing levels of digitalization and internet utilization across Southeast Asia, also the growing customer knowledge regarding product details and other advantages of online shopping, such factors are contributing to the growth of the market.
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